Open a Traditional IRA Today!
Traditional IRAs, also known as Regular IRAs, are ideal for those whose retirement is in the near future, as well as for those whose time is still several years away. When considering your retirement, plan smart and choose an America First Traditional IRA.
Take advantage of the Traditional IRA benefits:
- Earn tax-deferred, compound dividend on your money
- IRA certificates with competitive rates
- 2025: Deposit up to $7,000 of earned income per year of $14,000 per year for couples. If you are age 50 or older, deposit up to $8,000 or $16,000 per year for couples.
- 2024: Deposit up to $7,000 of earned income per year or $14,000 per year for couples. If you are age 50 or older, deposit up to $8,000 or $16,000 per year for couples
- Begin penalty-free withdrawals as early as age 59½
- Continue tax-deferred deposits while you receive earned income.
- Take penalty-free early distributions for education or a first-time home purchase (you must still pay taxes on the money you withdraw)
Choosing the Right IRA
Which IRA is right for you? Review the chart below to see whether the Traditional or the Roth IRA will benefit you most.
Comparing Traditional & Roth IRAs
There are no age limits.
There are no age limits.
You must have earned income. There are no maximum income limits.
You must have earned income. In 2025, the maximum amount you can contribute phases out when your household income is between $150,000 - $165,000 if you are single and $236,000 - $246,000 if you file jointly.
- For 2025, up to $7,000. If you are 50 or older by the end of the year, the limit is raised to $8,000.
- For 2024, up to $7,000. If you are 50 or older by the end of the year, the limit is raised to $8,000.
- For 2025, up to $7,000. If you are 50 or older by the end of the year, the limit is raised to $8,000.
- For 2024, up to $7,000. If you are 50 or older by the end of the year, the limit is raised to $8,000.
May be tax-deductible.
Are not tax-deductible.
Grow tax-deferred.
Are not tax-deductible.
Are penalty-free and taxed as ordinary income when taken after age 59 1/2 (unless you made nondeductible contributions.)
Are not taxed as long as the Roth IRA has been open for at least five years and you are 59 1/2 or older.
Must start taking them the year you attain the age of 73.
Are not required.
Withdrawals before reaching the age of 59 1/2 are subject to a 10% IRS penalty in addition to any ordinary income tax.
Withdrawals of your contribution amounts are allowed at any time without tax or penalty. However, you may be subject to tax and a 10% IRS penalty for withdrawing your earnigns before you reach the age of 59 1/2.
| Traditional IRA | Roth IRA | |
|---|---|---|
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Contribution Age Restriction |
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There are no age limits. |
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There are no age limits. |
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Income Requirement |
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You must have earned income. There are no maximum income limits. |
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You must have earned income. In 2025, the maximum amount you can contribute phases out when your household income is between $150,000 - $165,000 if you are single and $236,000 - $246,000 if you file jointly. |
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Contribution Limits |
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Tax-Deductibility for Contributions |
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May be tax-deductible. |
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Are not tax-deductible. |
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Earnings |
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Grow tax-deferred. |
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Are not tax-deductible. |
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Distributions |
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Are penalty-free and taxed as ordinary income when taken after age 59 1/2 (unless you made nondeductible contributions.) |
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Are not taxed as long as the Roth IRA has been open for at least five years and you are 59 1/2 or older. |
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Required Minimum Distributions |
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Must start taking them the year you attain the age of 73. |
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Are not required. |
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Early Withdrawals |
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Withdrawals before reaching the age of 59 1/2 are subject to a 10% IRS penalty in addition to any ordinary income tax. |
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Withdrawals of your contribution amounts are allowed at any time without tax or penalty. However, you may be subject to tax and a 10% IRS penalty for withdrawing your earnigns before you reach the age of 59 1/2. |
The Lifestyle You Deserve
It's never too early or too late to start planning for your retirement.
We're Here to Help You
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